[The following information applies to the questions displayed below.]The Miller Company earned $190,000 of revenue on account during Year 1. There was no beginning balance in the accounts receivable and allowance accounts. During Year 1, Miller collected $136,000 of cash from its receivables accounts. The company estimates that it will be unable to collect 3% of its sales on account.What is the net realizable value of Miller's receivables at the end of Year 1?
A. $59,700
B. $54,000
C. $48,300
D. $49,920
Answer: C
Business
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